15/07/2021
Adding value
We viewed a property last week that had been fire damaged from a fire in the next door property. Fully burnt out from roof to the cellar, top to bottom. It was a start from scratch project that the insurance company had started but the owner wanted a sale mid build.
This showed us two things we already knew but served us a good reminder:
- insurance is key. Imagine if that was your property and is wasn’t insured 🤯
- Adding value is important to what we do. How can we add value in some way so we can either sell for a profit or refinance and pay back our investors money. 🙌
The good thing about this property is the location is great and things rarely sell here. Also with a structural survey already done, everything back to brick and only a new roof and timber work there was plenty of value to add with less hidden surprises.
We Don’t think we are going to be able to agree a price on this one but another no means we are closer to our next yes!
The estate agent owned a property 2 doors away from the one with the fire and doesn’t insure it 🤯.
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